Plastics Industry will Witness Substantial Growth With in-detailed Competitor Analysis
Plastics Industry Data Book Covers Plastic Resins, Plastic Additive, Plastic Compounds and Recycled Plastics Markets. The economic value generated by the Plastics industry was estimated at approximately 307,966.7 kilotons in 2021. Plastic Resins Market Growth & Trends The global plastic resins market size is expected to reach USD 1.07 trillion by 2030, according to a new report by Grand View Research, Inc. It is projected to expand at a 4.5% CAGR over the forecast period. The increasing consumption of plastic resins in construction, automotive, electrical, and electronics applications is boosting the market growth. Government intervention to reduce overall vehicle weight to improve fuel efficiency and reduce carbon emissions has prompted automakers to use resins to replace steel and aluminum in automotive components. Favorable federal regulations on CO2 emissions set by agencies such as the National Highway Traffic Safety Administration and the Environmental ...